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2017-21 help to buy scheme - megathread. All help to buy discussion here please

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    #3752
    Jasna1982
    Registered Users Posts: 277 ✭✭Jasna1982


    Creamy Goodness wrote: »
    Next step is to upload a signed contract by you & the builder, and the loan offer letter for a specific property that matches the contract.

    Once you do that you get a code and that’s the one the builder really cares about.

    Ah thanks, I'm not looking at a house yet. I just wanted to know how much I was eligible for, so I could see how much of a mortgage I needed to apply for.
    Given how long it's been taking for some people, I thought I'd apply for it now so I would have that information by March. But it was instant!

    Use my Tesla referral link for free charging credits: https://www.tesla.com/referral/jasna121868



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    #3753
    This is it
    Registered Users Posts: 5,294 ✭✭✭This is it


    What's the criteria regards to what you're eligible for? Is it as simple as, paid X in tax for previous 4 years so eligible for €x?


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    #3754
    Markitron
    Registered Users Posts: 3,157 ✭✭✭Markitron


    This is it wrote: »
    What's the criteria regards to what you're eligible for? Is it as simple as, paid X in tax for previous 4 years so eligible for €x?

    Pretty much.


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    #3755
    This is it
    Registered Users Posts: 5,294 ✭✭✭This is it


    Markitron wrote: »
    Pretty much.

    Any idea what X is? I was told you just need to have covered the 30k in tax in the last 4 years, so if a couple paid say 60k in tax between them in the last 4 years, there likely wouldn't be an issue


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    #3756
    Ronald Franz
    Closed Accounts Posts: 34 ✭Ronald Franz


    Finally received an answer on my enquiries. Well an answer in that they marked it completed without actually responding.

    Will an underpayment of €00.13 hold an application up? It even says 'will not be collected at this time on my statement of liability.


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    #3757
    Milena009
    Registered Users Posts: 133 ✭✭Milena009


    Ronald Franz wrote: »
    Finally received an answer on my enquiries. Well an answer in that they marked it completed without actually responding.

    Will an underpayment of €00.13 hold an application up? It even says 'will not be collected at this time on my statement of liability.

    It should not.
    Mine was 0.01 so lesser but same volume really and mine got approved


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    #3758
    Renjit
    Registered Users Posts: 949 ✭✭✭Renjit


    After my application got approved I applied for claim and filled in all the details. Then received a claim reference number. Is that all? Will someone be verifying the contract and mortgage documents uploaded?


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    #3759
    Renjit
    Registered Users Posts: 949 ✭✭✭Renjit


    This is it wrote: »
    Any idea what X is? I was told you just need to have covered the 30k in tax in the last 4 years, so if a couple paid say 60k in tax between them in the last 4 years, there likely wouldn't be an issue

    You will be eligible for previous 4 years worth of tax or 30k (under enhanced HTB) whichever is lowest.

    So, lets say you create HTB application in 2021 then you will be able to claim taxes for 2020, 2019, 2018, 2017.

    If total taxes you paid is 50k for these past 4 years then you will only be able to claim max 30k to pay towards the deposit for the property price.

    And if total taxes you paid is 20k for these past 4 years then you will only be able to claim max 20k to pay towards the deposit for the property price.


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    #3760
    893bet
    Registered Users Posts: 8,830 ✭✭✭893bet


    If you self built and completed last year (sept) can you retrospectively apply?


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    #3761
    Renjit
    Registered Users Posts: 949 ✭✭✭Renjit


    Jasna1982 wrote: »
    Ah thanks, I'm not looking at a house yet. I just wanted to know how much I was eligible for, so I could see how much of a mortgage I needed to apply for.
    Given how long it's been taking for some people, I thought I'd apply for it now so I would have that information by March. But it was instant!

    It's always good to apply HTB at the start of year so that you are covered for entire year. Then when you finalize a property and get the mortgage, go ahead with the claim stage where you need to upload mortgage offer and signed contract and provide few more details. Once you submit, you get the claim reference number.

    So now you have 3 things to save :pac:
    Application number
    Access Code
    Claim Reference number


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    #3762
    Renjit
    Registered Users Posts: 949 ✭✭✭Renjit


    893bet wrote: »
    If you self built and completed last year (sept) can you retrospectively apply?

    Yeah, you should be able to apply retrospectively. For self build mortgage drawdown date (22nd July or before will be 20k, 23rd July or after will be 30k) will determine if you are eligible for normal HTB or enhanced HTB.

    Refer to below documents for details:
    https://www.revenue.ie/en/property/documents/htb-summary-applicants.pdf

    https://www.revenue.ie/en/tax-professionals/tdm/income-tax-capital-gains-tax-corporation-tax/part-15/15-01-46.pdf


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    #3763
    Renjit
    Registered Users Posts: 949 ✭✭✭Renjit


    SpiceBagHun wrote: »
    Thanks for the help, I'm Robo's partner and we having a nightmare with this only number i can get through to is collections (course this is open) the amount of misinformation I'm getting form them is insane saying we don't need to pay tax liability from 2020 then to be told have to and after paying it then be told not needed was told would have update Monday - still nothing from them.

    We are afraid now we will lose the sale and in turn lose the booking deposit as getting pressure from sols and vendors sols to close all documents had been sent to revenue and multiple enquiries(unsure how to escalate the enquiries).

    I think ive aged 5 year in this period :(

    Conditionally sign the contract. Your solicitor should be able to help here.


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    #3764
    Renjit
    Registered Users Posts: 949 ✭✭✭Renjit


    georgieox wrote: »
    Totally understand that they are prioritizing those who are currently at final stages & require revenue codes for sale. However very frustrating for those at the beginning and only looking for the figure they are entitled to so that they can go to the bank

    Check you statement of liability and you can calculate based on taxes paid for last 4 years.


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    #3765
    This is it
    Registered Users Posts: 5,294 ✭✭✭This is it


    Renjit wrote: »
    You will be eligible for previous 4 years worth of tax or 30k (under enhanced HTB) whichever is max.

    So, lets say you create HTB application in 2021 then you will be able to claim taxes for 2020, 2019, 2018, 2017.

    If total taxes you paid is 50k for these past 4 years then you will only be able to claim max 30k to pay towards the deposit for the property price.

    And if total taxes you paid is 20k for these past 4 years then you will only be able to claim max 20k to pay towards the deposit for the property price.

    Perfect, thank you.


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    #3766
    egoir
    Registered Users Posts: 1 ✭egoir


    My 10% deposit for a new build is 30k, I have the booking and contract deposit fees already paid in a total of 15k.
    My HTB claim was approved for a full 30k.

    Does anybody know if the Revenue will only pay the contractor the remaining balance of a deposit or does the contractor needs to refund me the amount paid before after they received the funds from HTB?


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    #3767
    Markitron
    Registered Users Posts: 3,157 ✭✭✭Markitron


    egoir wrote: »
    My 10% deposit for a new build is 30k, I have the booking and contract deposit fees already paid in a total of 15k.
    My HTB claim was approved for a full 30k.

    Does anybody know if the Revenue will only pay the contractor the remaining balance of a deposit or does the contractor needs to refund me the amount paid before after they received the funds from HTB?

    The contractor will receive the full 30k from revenue and hold onto the fees you already gave them, this will come off the total owed for the house. When your solicitor draws down the mortgage, there will be a 15k excess and this is when you will get it back.

    Hope this makes sense.


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    #3768
    Renjit
    Registered Users Posts: 949 ✭✭✭Renjit


    egoir wrote: »
    My 10% deposit for a new build is 30k, I have the booking and contract deposit fees already paid in a total of 15k.
    My HTB claim was approved for a full 30k.

    Does anybody know if the Revenue will only pay the contractor the remaining balance of a deposit or does the contractor needs to refund me the amount paid before after they received the funds from HTB?

    Check with your solicitor to get the refund. Should be possible once developer receives 30k using you claim reference number.


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    #3769
    InformalAd
    Registered Users Posts: 2 ✭InformalAd


    Hey. We have a HTB application in since 16th of January and like many people here it seems, are still under review. Just wondering, does anyone know if being on the wage subsidy scheme last year will have any effect on the HTB application? My partner was on it for a couple of months and owes tax which will be paid back over 4 years from next year but I’m wondering if the fact that it’s money owed to revenue will cause a problem with our HTB, does anyone know?!


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    #3770
    Busi_Girl08
    Registered Users Posts: 17,844 ✭✭✭✭Busi_Girl08


    InformalAd wrote: »
    Hey. We have a HTB application in since 16th of January and like many people here it seems, are still under review. Just wondering, does anyone know if being on the wage subsidy scheme last year will have any effect on the HTB application? My partner was on it for a couple of months and owes tax which will be paid back over 4 years from next year but I’m wondering if the fact that it’s money owed to revenue will cause a problem with our HTB, does anyone know?!

    I'm in the same boat, was on the WSS for 2 months last year. Have a tax liability and applied for the HTB a couple of days before you. I was told by 2 different people at revenue two different things - that I do have to pay back the liability in full first, and then by someone else that I don't and that the delay is they're going through everyone's applications to see what liabilities are owed now and what aren't to proceed.


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    #3771
    Jasna1982
    Registered Users Posts: 277 ✭✭Jasna1982


    InformalAd wrote: »
    Hey. We have a HTB application in since 16th of January and like many people here it seems, are still under review. Just wondering, does anyone know if being on the wage subsidy scheme last year will have any effect on the HTB application? My partner was on it for a couple of months and owes tax which will be paid back over 4 years from next year but I’m wondering if the fact that it’s money owed to revenue will cause a problem with our HTB, does anyone know?!

    In general, you can’t get HTB with outstanding taxes. You have to pay it back in full first.
    I don’t know if that’s different for the subsidy scheme

    Use my Tesla referral link for free charging credits: https://www.tesla.com/referral/jasna121868



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    #3772
    Busi_Girl08
    Registered Users Posts: 17,844 ✭✭✭✭Busi_Girl08


    It would be great if we could get some clear unconflicting guidance or information from Revenue on the matter:rolleyes:

    Edit: I've just messaged Revenue *again* asking them to clarify, in writing, whether WSS tax liabilities need to be paid in advance or not, as I was distinctly told by an agent over phone a couple of weeks ago that I don't and the delay is they are going through each application and sorting through what liabilities apply now (ie any other tax liabilities).


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    #3773
    georgieox
    Registered Users Posts: 8 ✭georgieox


    A number of people have been told by the Revenue that they will not penalize people for the PUP payment and that it can be paid back over four years. It’s the other tax liabilities which is holding everything up. My application is in since Mid Jan and they have said they are getting through the backlog now and shouldn’t be much longer so fingers crossed


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    #3774
    Markitron
    Registered Users Posts: 3,157 ✭✭✭Markitron


    Hi guys, I applied a month ago and it had been under review since then. Just got the notification I have been approved, seems like they are finally getting through the backlog.


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    #3775
    Busi_Girl08
    Registered Users Posts: 17,844 ✭✭✭✭Busi_Girl08


    Markitron wrote: »
    Hi guys, I applied a month ago and it had been under review since then. Just got the notification I have been approved, seems like they are finally getting through the backlog.

    Great news! I applied on the 14th so fingers crossed. Just hope I haven't pissed them off with all my inquiries to be pushed to the back ot the queue :pac:


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    #3776
    Markitron
    Registered Users Posts: 3,157 ✭✭✭Markitron


    Busi_Girl08 wrote: »
    Great news! I applied on the 14th so fingers crossed. Just hope I haven't pissed them off with all my inquiries to be pushed to the back ot the queue :pac:

    Think I applied on the 12th so yea you will hopefully not be waiting long. I made a few inquires as well so I don't think they are holding that against us :)


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    #3777
    InformalAd
    Registered Users Posts: 2 ✭InformalAd


    Busi_Girl08 wrote: »
    It would be great if we could get some clear unconflicting guidance or information from Revenue on the matter:rolleyes:

    Edit: I've just messaged Revenue *again* asking them to clarify, in writing, whether WSS tax liabilities need to be paid in advance or not, as I was distinctly told by an agent over phone a couple of weeks ago that I don't and the delay is they are going through each application and sorting through what liabilities apply now (ie any other tax liabilities).

    Yeah, it would be great wouldn’t it! The backlog is giving me too much time to worry, my partner spoke to them last week and whoever he spoke to said they were currently looking at our application so we should know by early this week, still no word so now I’m panicking it’s because of the TWWS.


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    #3778
    B Rabbit
    Registered Users Posts: 227 ✭✭B Rabbit


    Hi All,

    Any idea of how long it's currently taking from contracts & supporting documents being uploaded to claim being confirmed by revenue?


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    #3779
    Busi_Girl08
    Registered Users Posts: 17,844 ✭✭✭✭Busi_Girl08


    InformalAd wrote: »
    Yeah, it would be great wouldn’t it! The backlog is giving me too much time to worry, my partner spoke to them last week and whoever he spoke to said they were currently looking at our application so we should know by early this week, still no word so now I’m panicking it’s because of the TWWS.

    I'm in the early stages of the mortgage application and I'm panicking about *everything* right now. :o


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    #3780
    B Rabbit
    Registered Users Posts: 227 ✭✭B Rabbit


    B Rabbit wrote: »
    Hi All,

    Any idea of how long it's currently taking from contracts & supporting documents being uploaded to claim being confirmed by revenue?

    Never mind. Claim approved within a few hours 👌


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    #3781
    DubLad69
    Registered Users Posts: 479 ✭✭DubLad69


    My application has finally moved from waiting for membership confirmation to under review. Any ideas as to how long I should expect now?


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